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Metals and Mining

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  • Early Glance: Coal companies Thursday, 23 Oct 2014 | 11:56 AM ET

    Arch Coal rose$. 04 or 2.3 percent, to $1.80. Consol Energy Inc. rose$. 26 or. 7 percent, to $34.93. Peabody Energy rose$. 11 or 1.0 percent, to $10.42.

  • Atlantic Copper, a subsidiary of mining firm Freeport-McMoRan Inc, expects to produce 284,000 tonnes of copper cathodes, up from 226,000 tonnes in 2013, when it cut production by 17.5 percent due partly to a maintenance shutdown at its facility in Huelva, Spain. "While there are new mines coming on stream, there is also new smelter capacity being built in China,"...

  • BUENOS AIRES, Oct 23- Persistent government intervention in Argentina's stagnating economy means oil and gas firms will remain cautious even if Congress backs a proposed law offering sweeteners to attract new investments worth tens of billions of dollars. Argentina needs to ramp up production from its vast but barely tapped Vaca Muerta shale oil and gas...

  • Oct 23- Nucor Corp, the No. 1 U.S. steelmaker, posted a higher quarterly profit on Thursday as the growing U.S. economy fueled demand for its products from the auto, construction, and oil and gas industries. Analysts on average expected Nucor to post a profit of 74 cents a share on sales of $5.4 billion, according to Thomson Reuters I/B/E/S. In early trading on the New York...

  • RIO DE JANEIRO, Oct 23- Brazilian miner Vale produced 85.7 million tonnes of iron ore in the third quarter, the highest level in the company's history, as it ramps up output in a bid to counter falling prices. Production of iron ore rose 3 percent from the same period last year, and was 7.9 percent higher than the previous quarter, it said on Thursday.

  • Cenovus's operating cash flow from refining fell 53 percent due to an unplanned coker outage in July at its Borger refinery in Texas and a planned turnaround at the Wood River refinery in Illinois. Cenovus, which co-owns the Foster Creek and Christina Lake oil sands projects with ConocoPhillips, said its total oil production rose 13 percent to 199,089 barrels...

  • METALS-Copper gains on Chinese manufacturing data Thursday, 23 Oct 2014 | 6:08 AM ET

    *China's manufacturing sector shows uptick in October. LONDON, Oct 23- Copper rose on Thursday on data showing a slight pickup in the growth in top consumer China's manufacturing sector. A stronger number in China, is mostly good news, "said Naeem Aslam, chief market analyst at Ava Trade.

  • MOSCOW, Oct 23- Ukraine's largest steelmaker, Metinvest, has offered holders of its $500 million bond which was due to mature in May 2015 a longer-term bond to November 2017 with an increased interest rate of 10.5 percent per annum. "The Issuer expects its EBITDA and operating cash flow in the second half of 2014 will decrease as compared to the first half of 2014 and...

  • LAUNCESTON, Australia, Oct 23- There is now no doubt that the big three global iron ore miners are producing record amounts in their bid to dominate the industry. With the lowest cash costs, in the region between $20 to $30 a tonne, and plans to strip out even more costs, they can survive and prosper even if iron ore prices remain weak. The spot price in Asia is down 39...

  • But a Reuters investigation found in 2012 that coal companies were using affiliated brokers to settle royalty payments on exports to Asia at much lower domestic prices. The findings prompted Senator Ron Wyden, a Democrat from Oregon, to call on the U.S. Interior Department early last year to investigate the practice. While that review continues, the U.S. Office...

  • SINGAPORE, Oct 23- Gold steadied above $1,240 an ounce on Thursday after dipping overnight on a stronger dollar, but caution prevailed ahead of a host of global economic data and on further outflows from bullion funds. *Spot gold was little changed at $1,241.60 an ounce by 0045 GMT, after losing 0.7 percent in the previous session. *Investors will be eyeing data from...

  • BRASILIA, Oct 22- A Brazilian court has approved a bankruptcy protection petition filed by MMX Sudeste Mineracao SA, an iron-ore mining company controlled by Brazilian tycoon Eike Batista, the company said on Wednesday in a securities filing. The decision was taken by a court in Belo Horizonte in the Minas Gerais state. MMX Sudeste holds nearly all the...

  • Final Glance: Coal companies Wednesday, 22 Oct 2014 | 6:09 PM ET

    Arch Coal fell$. 17 or 8.8 percent, to $1.76. Consol Energy Inc. fell$. 57 or 1.6 percent, to $34.67. Peabody Energy fell$. 54 or 5.0 percent, to $10.31.

  • Final Glance: Gold companies Wednesday, 22 Oct 2014 | 6:09 PM ET

    Barrick Gold Corp. fell$. 23 or 1.7 percent, to $13.39. Gold Fields fell$. 10 or 2.7 percent, to $3.57. Newmont Mining Corp. fell$. 31 or 1.4 percent, to $22.59.

  • Final Glance: Silver companies Wednesday, 22 Oct 2014 | 6:09 PM ET

    Hecla Mining Co. fell$. 19 or 7.6 percent, to $2.30. Pan American Silver Corp. fell$. 53 or 4.9 percent, to $10.27. Silver Standard Resources Inc. fell$. 33 or 5.7 percent, to $5.41.

  • Midday Glance: Coal companies Wednesday, 22 Oct 2014 | 1:18 PM ET

    Arch Coal fell$. 02 or 1.0 percent, to $1.91. Consol Energy Inc. fell$. 11 or. 3 percent, to $35.13. Peabody Energy fell$. 32 or 2.9 percent, to $10.54.

  • Midday Glance: Silver companies Wednesday, 22 Oct 2014 | 1:18 PM ET

    Hecla Mining Co. fell$. 11 or 4.2 percent, to $2.39. Pan American Silver Corp. fell$. 29 or 2.7 percent, to $10.51. Silver Standard Resources Inc. fell$. 21 or 3.7 percent, to $5.53.

  • METALS-Copper pressured by strong dollar, growing supplies Wednesday, 22 Oct 2014 | 12:23 PM ET

    *China copper output up 4.9 pct in Sept, new record. *LME week industry gathering continues in London. LONDON, Oct 22- Copper prices edged lower on Wednesday, pressured by a rise in the dollar against the euro and concerns about growing supplies in the market, though prospects of fresh monetary policy measures in Europe and China limited falls.

  • Early Glance: Gold companies Wednesday, 22 Oct 2014 | 10:36 AM ET

    NEW YORK— Shares of some top gold companies are mixed at 10 a.m.:. Barrick Gold Corp. fell$. 06 or. 4 percent, to $13.56. Newmont Mining Corp. fell$. 07 or. 3 percent, to $22.83.

  • Early Glance: Silver companies Wednesday, 22 Oct 2014 | 10:36 AM ET

    Hecla Mining Co. fell$. 11 or 4.4 percent, to $2.38. Pan American Silver Corp. fell$. 25 or 2.3 percent, to $10.55. Silver Standard Resources Inc. fell$. 15 or 2.6 percent, to $5.59.